Earlier this week, the national retail report bared a (negative) 0.3 percent yearly slide last January after the adjusted increase of 1.9 percent in December. Import Price and Producer Index also dropped more than projections.
This data was followed by the ZEW survey one expectations. Sentiment measure got better from (negative) 73 to (negative) 37.9.
The gain was solid but not impressive enough as economists expected. Trade surplus narrowed down from 3.41 billion in January to 2.47 in February (CHF). This was brought about by a (negative) 2.8 percent monthly drop in exports and 3.1 percent increase for imports.
UK pound sterling to CHF was listed at 1.459. CHF to EUR came in at 0.947 while CHF to USD was 1.025 dollar.
The franc was softer versus the pound and dollar following the decision of the SNB on interest rates. Sight deposit rate remained at (negative) 0.75 percent as the central bank reduced its growth position and projected a sharp slide of prices because of the robust domestic currency. Central bank officials said it will be active in the FOREX market if required. The franc declined against the pound after the SNB came up with its decision.
The currency pair (CHF and GBP) traded within the range of 1.0084. The single currency showed a 0.3 percent drop versus the franc at 0.9418. Meanwhile, the CHF and USD traded at 1.0092. It was down by nearly one percent
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